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Intention to Delist from AIM and the TSX-V

1 October 2013

TSX-V: AFF

AIM: AFF

AFFERRO MINING INC.

Intention to Delist from AIM and the TSX-V

Afferro Mining Inc. (“Afferro” or the “Company”) announces that, following the approval of its shareholders and optionholders at the special meeting held on 16 September 2013 of the acquisition by IMIC of 100% of the issued and outstanding share capital of Afferro pursuant to a Canadian court approved plan of arrangement (the “Arrangement”), and subject to inter alia IMIC shareholder approval, final court approval and the satisfaction or waiver of the conditions to closing, including receipt of all necessary regulatory approvals, the Company has applied for the cancellation of its shares from admission to the AIM Market of the London Stock Exchange (“Cancellation”). Following completion of the Arrangement, the Company’s shares will also be de-listed from the TSX-V.

The Cancellation is currently expected to take place at 7.00 a.m. on no earlier than 29 October 2013 and no later than 31 October 2013. These dates are subject to change and confirmation on the final timetable for the Arrangement and a further announcement will be made in due course. Following completion of the Arrangement and the Cancellation, Afferro’s shareholders will cease to hold shares in the Company and accordingly no dealings in Afferro’s shares will be able to be effected.

The Company also confirms that, on 30 September 2013, its capital consisted of 105,153,636 common shares with voting rights. On that date, no shares were held in treasury. The total number of voting rights in the Company is, therefore, 105,153,636. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Afferro under the FSA’s Disclosure and Transparency Rules.

For further information please see the Company’s website at www.afferro-mining.com or contact one of the following:

Afferro Mining Inc.

Luis da Silva / Jeremy Cave

Tel: +44 (0) 20 7010 7680

Canaccord Genuity Limited

Financial Adviser:

Melissa So / Joe Weaving

Tel: +44 (0) 20 7523 8000

Investec Bank Plc

Nominated Adviser and Joint Broker:

Chris Sim / Jeremy Ellis / George Price

Tel: +44 (0) 20 7597 5970

RBC Capital Markets

Joint Broker: Martin Eales / Richard Hughes

Tel: +44 (0) 20 7653 4000

Pelham Bell Pottinger

Daniel Thöle / James MacFarlane

Tel: +44 (0) 20 7861 3232

About Afferro Mining Inc.

Afferro is an established exploration and development company listed on the TSX-V (AFF) and AIM (AFF). Afferro’s portfolio includes the 100% owned Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70% interest in the Ngoa project, an exploration target bordering Nkout. All projects are subject to government rights. Nkout has an Indicated Mineral Resource Estimate of 1.6Bt at 33.3% Fe and an Inferred Mineral Resource Estimate of 0.9Bt at 30.8% Fe. Ntem has an Indicated Mineral Resource Estimate of 39.2Mt at 34.0% Fe and an Inferred Mineral Resource Estimate of 76.4Mt at 34.2% Fe.